LS Electric Q3 net income down 13.5% to $25.4 mil.
This undated picture shows LS Electric's factory in Cheongju, North Chungcheong Province. Courtesy of LS Electric
LS Electric on Wednesday reported its third-quarter net profit of 35.1 billion won ($25.4 million), down 13.5 percent from a year earlier.
The company said in a regulatory filing that operating income for the July-September period fell 5.2 percent on-year to 66.5 billion won. Revenue decreased 0.1 percent to 1.02 trillion won.
The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 49.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. (Yonhap)